Fewer deals, yet deep tech startups rack up more funds

Deep tech startups in India are raising more money than before, but fewer of them are getting funded. Data from Tracxn shows a clear shift in how capital is being deployed across the sector. While total funding has increased steadily over the past three years, the number of investment rounds has declined.

In FY24, Indian deep tech start-ups raised $1.06 billion across 450 rounds. A year later, funding rose sharply to $1.74 billion across 449 rounds. By FY26, total funding climbed further to $1.93 billion even as the number of rounds fell to 341, a 24% drop from FY24 levels.